UK home prices fell for a fourth month in August, with the average cost of a home falling 0.1% from July, and down 3.7% from a year ago. Demand for homes is expected to fall further this year because of pressure on household incomes and weak consumer sentiment.

Hurricane Irene was downgraded to a tropical-storm but left parts of the east coast devastated. It has already killed 21 victims in eight states, and left millions without power and is expected to move to Canada today.